Rules of my options trading method 1. 100% invested (money management is for losers) 2. Follow trading plan and don't assume or anticipate. Options trading method 1. Support and Resistance levels are top priority. 2. Use full stoch(5,3,3) MACD(8,17,9) and RSI(5) to confirm price movement and enter trade. So basically i going to use $3K for the BS system of trading and see if but end of this year (2 1/2 months) I can return 100%. Place your bets! Wish me luck. I'll post a chart showing you when i traded and when i got out. Oh ya stop losses are mental!
I noticed a ID/NR4 pattern on the the spy and dow yesterday. Ya I know what does the spy and dow have to do with the qqqq's? Well probably nothing but i knew that we would have a wild day and figured i would go with the trend. So decided to pick up 15 contracts of the OCT 2007 55 Puts at $1.40 this morning. I'll wait until the close to dump it. I'm hoping to get $1K to $1.5K outta this trade. So far the Dow and SPX have broke support at 13650 and 1525 respectively. Oh ya happy anniversary.
Why the delay in posting to Elitetrader with your trade for easy confirmation? Your Elitetrader posting timestamp has those puts at about $2.20.
got out at 2.50 a few minutes before close. ~$1K with commissions($1.25/contract) As for the delay, i'll post when i have time during the day. I have a full time job my friend. Sorry i can't accommodate your request of posting the minute my order gets filled. But i don't really think it makes a difference. Support is broken on all the major average which was a pretty clear indicator (if you know how to find support and resistance) to go short this morning. And dude its only $3k..so im going to take some major risk here and why would i lie. If i lose it... oh well. Its a fun ride. Trading is so much easier if you think of it as a video game. Word to your mother bro! Have a great weekend.
Takes 5 seconds for the very important ET timestamp , and there is no reason for anyone to take your word.
okay people bought QQQWB @1.79. Missed the opportunity to buy at support this morning and ride the bounce. But the 10-20ma acting like resistance now. So i'll wait until 2075 on the ndx to sell! later trading geeks!
Sold the qqqwb@ 1.90 for a small gain because I saw the perfect set up to go long. Look at the attached 30min chart. What you can't see is that price also had the support of the 20ma on the daily chart. So i bot the qqqkz @2.01 and still holding . Might dump them tomorrow.